Tonight at our Financial Peace University class we decided to have a little “shredding party”. From the start of the class everyone was asked to hang on to all of their “offers to go into debt”. I brought my dad’s giant shredder over and my waste basket one too. We shredded so much that we filled both of them up, after tamping them down a couple of times too.
|As I looked at the offers go into the shredder I noticed the marketing that was being used. Chase Freedom really hit me because while the credit card is being marketed to me as a way to financial freedom it is actually the exact opposite that it offers me. Think about it. Sure you have the freedom to buy whatever you’d like with a credit card but then you have to pay that money back with interest. Once we are out of debt I am going to add up all the interest that we have payed since 1993 (the year I got my first CC, in college) and see what that would have been now if I put that money in a mutual fund. Why… well, because I’d like to cry.||
Credit cards certainly do not make you free. You will “Chase” Freedom your whole life if you continue to use credit cards. So as I saw this offer shredded I thought about how freedom, true freedom financially means never having to be in debt to anyone ever again. It can be done and we will get there.
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